Bank charges amounting to $5000 was not entered in the cash book. Identify the correct adjustment in cash book?

Related Mcqs:

A cash deposit made by business appears on the bank statement as _______ balance?

A. Debit B. Credit C. Expenses D. Liability...

A discount of $2000 was given to a supplier on his prompt repayment of debt but the cashier entered the gross amount in cash book. What should be the adjustment in cash to work out the correct balance of cash book?

A. $2000 will be debited in cash book B. $2000 will be credited in cash book C. $4000 will be debited in cash book D. $4000 will be credited in the cash book...

___________ are checks that are issued by the business but not yet presented to bank

A. Uncollected checks B. Uncredited checks C. Outstanding checks D. Bounced checks...

In bank reconciliation statement the amount of outstanding checks is added to ________ balance of cash book.

A. Adjusted B. Unadjusted C. Understated D. Overstated...

Favorable balance of bank statement implies that

A. Credit balance B. Debit balance C. Bank overdraft D. Adjusted balance...